The Chinese government, in an attempt to grow the national digital economy, has urged its top broadband service providers to slash down the prices by 30% by the end of the year.
As per the reports published in China Daily, Zhang Feng, Spokesperson, Ministry of Industry and Information Technology, stated that three of the top broadband service providers in the country have been told to improve access prices. He further added that the internet was becoming the basic need for China’s start-up culture; however, its cost was not in line with the requirement. To help the national economy bolster, top service providers in the country should reduce prices.
Zhang reiterated that the Chinese Government would invest $70.06 billion in 2015 to augment the internet infrastructure of the country. It’s 10% higher than previous year’s investment made by the government.
China seeks to invest more than $1.1 trillion over a period of next three years to improve 4G network and fixed broadband services.
Bhupendra holds a Post Graduate degree from Christ University. He is an investment banker & trader by profession and a writer by heart.